Congress·In Committee·S. 5366

Affordable Housing Credit Carryback Act

Affordable Housing: 5-Year Tax Credit Carryback

Aug 7·View on Congress.gov·Read full text

Next up: A senate committee

The Affordable Housing Credit Carryback Act is currently in the Senate Committee on Finance. It has not moved since August 7, 2026. The committee members must decide whether to hold a vote on the bill before it can proceed further.

Legislative Progress

Senate

House

President

Law

Could go either way

Bipartisan support helps the bill's chances, but technical tax changes often need to be part of a larger package to pass.

Key Points

This bill changes how developers use tax credits for building affordable housing. It allows them to apply these credits to taxes they paid up to five years in the past to get a refund.
Right now, developers can usually only go back one year to claim these tax benefits. Extending the time to five years gives these companies more immediate cash to start new building projects.
The plan aims to encourage more construction of low-income apartments by making the tax benefits more flexible. This could help increase the supply of affordable rentals for families.
If passed, these new rules would start for the first tax year after the bill is signed into law. It specifically updates the existing Low-Income Housing Tax Credit program.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.

Milestones

2 milestones2 actions

Aug 7, 2026Senate

Read twice and referred to the Committee on Finance.

Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.

Aug 7, 2026

Introduced in Senate

The bill was officially filed and given a number. It now enters the legislative queue.

No votes, news coverage, or related bills recorded for this bill yet.

Source Information

Document Type

Congressional Bill

Official Title

Affordable Housing Credit Carryback Act

Bill NumberS 5366

Congress119th Congress

ChamberSenate

Latest ActionRead twice and referred to the Committee on Finance.

Data Sources

Congress.gov

Official legislative information

Read Full Bill Text

Sponsor

Cosponsors

(1)

R: 1

Analysis generated by AI. Always verify with official sources.